Cambodia-Thailand trade surpasses $1.7 billion in first five months

Cambodia-Thailand trade surpasses $1.7 billion in first five months

Bilateral trade between Cambodia and Thailand crossed $1.7 billion in the first five months, an increase of 1.73 percent compared to the same period last year, said a report of the General Department of Customs and Excise of the Ministry of Commerce.

Cambodia exported to Thailand totalled $391 million, down 18.43 percent, while Cambodia imported from Thailand totalled $1,342 million, up 9.64 percent, read the report.

Thailand is Cambodia’s second-largest trade partner in ASEAN with trade turnover at $3.71 billion in 2023, a year-on-year decrease of 17 percent from $4.47 billion recorded in 2022.

Socio-economic research and development expert Dr Chey Tech told Khmer Times yesterday that as of 2024, cooperation between Cambodia and Thailand has improved and the two countries have now reached the stage of establishing a strategic partnership, which was signed in February 2024.

“I think the upcoming visit of the Minister of Foreign Affairs of Thailand to Cambodia will further enhance the cooperation between the two countries, especially in the sectors of trade, investment, tourism, security and energy,” Tech said.

According to the press release of the Ministry of Foreign Affairs and International Cooperation (MFAIC) on June 24, at the invitation of Sok Chenda Sophea, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Minister of Foreign Affairs of the Kingdom of Thailand, Maris Sangiampongsa, will pay an official visit to Cambodia on June 27.

During the visit, Sangiampongsa will pay courtesy calls on Mr Hun Sen, President of the Senate, and Prime Minister Hun Manet.

Sangiampongsa will also hold bilateral talks with Sok Chenda Sophea and both will exchange views on how to strengthen ties and explore ways to expand cooperation after the two countries elevated bilateral relations to Strategic Partnership in February 2024. They are also expected to dwell on regional and international issues of common interest and concern.

During the Cambodia-Thailand Business Forum on February 7, Kith Meng, President of Cambodia Chamber of Commerce (CCC), who accompanied the Prime Minister, said that Cambodian businessmen and Thai investors should join hands in grabbing the investment opportunities from existing mechanisms along the Greater Mekong Subregion (GMS) that are conducive to trade facilitation and transportation, a strategic location to set up the production base and export the goods to ASEAN market, China, Korea and the United Arab Emirates.

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